C Spire will become the presenting sponsor of the PGA Champions Tour golf tournament, held each spring at Fallen Oak Golf Club in Saucier, C Spire Chief Operating Officer Kevin Hankins said during a press conference Thursday afternoon at the Ohr-O'Keefe Museum of Art in Biloxi.

Although no dollar amount was announced, Hankins said the agreement represented "the largest corporate contribution in the our company's history." A press release handed out during the press conference called the deal a "multi-million dollar sponsorship."

The MGRC began four years ago and to date has had an economic impact of some $55 million, with $750,000 going to local charities, including primary beneficiary Habitat for Humanity.

Roy Anderson III, President of the MGRC Board of Directors, said C Spire "stepped up in a big way," adding that it is a private company, based in Mississippi and founded in Gulfport.

"They've been committed to the Gulf Coast and the entire state of Mississippi for a long time," Anderson said.

For the tournament's first four year, a consortium of sponsors comprised of companies with operations on the Gulf Coast footed the bill for the tournament. The other 14 consortium partners will continue to contribute funding for the tournament.

"The Gulf Coast holds special meaning for us," Hankins said. "It is a special place and we want to be a part of showing the rest of the world all of its beauty, charm and Southern hospitality."

Duncan McKenzie, Chairman of the Mississippi Gulf Coast Convention and Visitors Bureau, said the agreement with C Spire brings much-needed stability to the event.

"Having another three years without having to worry is just great," McKenzie said "and allows us to focus on other things to make the tournament even better."

McKenzie noted the event, televised live by The Golf Channel, reaches an estimated 84 million homes in the U.S. and and has the potential to reach another 115 million worldwide.

"This event is a tremendous opportunity to showcase the Mississippi Gulf Coast to potential visitors and tourists," McKenzie said, adding an estimated 2,500 hotel rooms are sold each year during the tournament.

Champions Tour President Mike Stevens was unable to attend Thursday's announcement, but said in a statement the MGRC will continue to be one of hte 26 Charles Schwab Cup events that determine the year's best professional golfer over the age of 50.

"Our players always enjoy coming to the Gulf Coast with its great food, fans and hospitality," Stevens said. "These tournaments are great opportunities for fans to get up close and personal with some of the legendary golfers of our time.

"We strive to make our events the most approachable, accessible and fan-friendly in all of sports and we particularly appreciate C Spire for stepping up to ensure that we will continue to have a tournament stop on the Mississippi Gulf Coast."

The four winners of the MGRC are David Eger (2010), Tom Lehman (2011), Fred Couples (2012) and Michael Allen (2013).

The C Spire sponsorship begins with the 2014 event, scheduled for March 17-24.